Health Insurance Fundamentals Quiz
Test your knowledge on health insurance basics, from deductibles to COBRA, and understand key terms like HMO, PPO, and more in this quiz.
#1
What is the deductible in health insurance?
The amount paid by the insured before the insurance coverage kicks in
The maximum amount the insured pays out of pocket each year
The percentage of medical expenses covered by the insurance company
The amount the insured pays for each medical service
#2
What does COBRA stand for in the context of health insurance?
Consolidated Omnibus Budget Reconciliation Act
Comprehensive Organized Benefits and Reimbursement Agreement
Centralized Operations for Beneficiary Reimbursement Act
Community-Based Organization for Benefits and Resources Act
#3
What does EOB stand for in health insurance?
Estimated Out-of-Pocket Billing
Explanation of Benefits
Enrollment Overview for Beneficiaries
Endorsement of Obligated Billing
#4
What is a copayment (copay) in health insurance?
A fixed amount the insured pays for covered medical services
The total amount the insured pays out of pocket before the insurance coverage kicks in
A percentage of medical costs the insured pays after meeting the deductible
The maximum amount the insured pays for covered services each year
#5
What is a premium in health insurance?
A fixed amount the insured pays for covered medical services
The total amount the insured pays out of pocket before the insurance coverage kicks in
A monthly or yearly fee paid to the insurance company to maintain coverage
The maximum amount the insured pays for covered services each year
#6
What is a Health Insurance Claim?
A request for payment submitted to the insurance company by a healthcare provider
A document detailing the benefits covered by the insurance policy
A form used to enroll in a health insurance plan
A list of excluded medical services in the insurance policy
#7
Which of the following is NOT typically covered by a basic health insurance plan?
Emergency room visits
Prescription drugs
Cosmetic surgery
Preventive care services
#8
What is the purpose of a Health Savings Account (HSA)?
To provide insurance coverage for high-cost medical procedures
To save money for medical expenses on a tax-advantaged basis
To reimburse medical expenses incurred while traveling abroad
To provide financial assistance for low-income individuals
#9
What is the purpose of a Health Maintenance Organization (HMO)?
To provide insurance coverage for high-cost medical procedures
To save money for medical expenses on a tax-advantaged basis
To manage and coordinate healthcare services for its members
To reimburse medical expenses incurred while traveling abroad
#10
What does the term 'coinsurance' mean in health insurance?
A fixed amount the insured pays for covered medical services
The total amount the insured pays out of pocket before the insurance coverage kicks in
A percentage of medical costs the insured pays after meeting the deductible
The maximum amount the insured pays for covered services each year
#11
What is a pre-existing condition in the context of health insurance?
A medical condition that arises after purchasing health insurance
A condition for which the insured received treatment before the insurance coverage started
A condition that is not covered by health insurance policies
A condition that only affects individuals over a certain age
#12
What is the purpose of a Health Reimbursement Arrangement (HRA)?
To provide insurance coverage for high-cost medical procedures
To save money for medical expenses on a tax-advantaged basis
To reimburse employees for qualified medical expenses
To reimburse medical expenses incurred while traveling abroad
#13
What is the main difference between an HMO and a PPO?
HMOs have a larger network of healthcare providers compared to PPOs
HMOs require referrals to see specialists, while PPOs do not
PPOs typically have lower premiums but higher out-of-pocket costs than HMOs
HMOs offer more flexibility in choosing healthcare providers compared to PPOs
#14
What is the main difference between an EPO and a PPO?
EPOs typically require referrals to see specialists, while PPOs do not
PPOs have a larger network of healthcare providers compared to EPOs
EPOs have higher out-of-pocket costs compared to PPOs
EPOs offer more flexibility in choosing healthcare providers compared to PPOs
#15
What does the term 'out-of-pocket maximum' mean in health insurance?
The total amount the insured pays out of pocket before the insurance coverage kicks in
The maximum amount the insured pays for covered services each year
A percentage of medical costs the insured pays after meeting the deductible
The maximum amount the insured pays out of pocket each year, after which the insurance covers 100% of covered expenses
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